A court on Thursday found 34 student activists guilty of trespassing on the then presidential compound and a U.S. military base between 2022 and 2024. The Seoul Western District Court sentenced a senior leader of the Korean Progressive University Student Union (KPUSU) to a suspended four-month prison term and ordered 32 other members to pay fines ranging from 1 million won ($756) to 6 million won. One other member received a deferred sentence of a 1 million-won fine. Two others were indicted but acquitted. The students faced multiple charges, including trespassing on a U.S. military installation in Korea in August 2022 and March 2023 to stage rallies against joint military exercises between Korea and the United States. In January and October 2024, they attempted to illegally enter what was then the presidential compound in Seoul's Yongsan Ward to demand the resignation of then President Yoon Suk Yeol and a special counsel investigation into then first lady Kim Keon Hee. The court ruled that the defendants did not act on impulse but conspired in advance, such as by sharing picket signs wit
A court on Thursday found 34 student activists guilty of trespassing on the then presidential compound and a U.S. military base between 2022 and 2024. The Seoul Western District Court sentenced a senior leader of the Korean Progressive University Student Union (KPUSU) to a suspended four-month prison term and ordered 32 other members to pay fines ranging from 1 million won ($756) to 6 million won. One other member received a deferred sentence of a 1 million-won fine. Two others were indicted but acquitted. The students faced multiple charges, including trespassing on a U.S. military installation in Korea in August 2022 and March 2023 to stage rallies against joint military exercises between Korea and the United States. In January and October 2024, they attempted to illegally enter what was then the presidential compound in Seoul's Yongsan Ward to demand the resignation of then President Yoon Suk Yeol and a special counsel investigation into then first lady Kim Keon Hee. The court ruled that the defendants did not act on impulse but conspired in advance, such as by sharing picket signs wit
Singer and actor Suzy has reportedly purchased a home in one of Seoul's most exclusive new residential developments, where units are priced as high as 40 billion won ($28 million) and a string of Korean celebrities, including BLACKPINK's Jisoo, are said to be her future neighbors. Suzy recently signed a purchase contract for L’Arbre 27, an ultraluxury residential development under construction in Samseong-dong, Gangnam District, according to a TenAsia report Thursday. The development stands out even in Gangnam, Seoul's affluent southern district known as the home of some of the country's most expensive real estate. Prices reportedly range from around 14 billion won to more than 40 billion won depending on the unit's size, layout and location. L’Arbre 27 will have just 27 residences, emphasizing privacy and independent living rather than the large-scale community amenities typically associated with Korean apartment complexes. The project has already drawn attention for its reported celebrity buyers. Actor Shin Se-kyung, actor and singer Jang Keun-suk, television personality and former
Singer and actor Suzy has reportedly purchased a home in one of Seoul's most exclusive new residential developments, where units are priced as high as 40 billion won ($28 million) and a string of Korean celebrities, including BLACKPINK's Jisoo, are said to be her future neighbors. Suzy recently signed a purchase contract for L’Arbre 27, an ultraluxury residential development under construction in Samseong-dong, Gangnam District, according to a TenAsia report Thursday. The development stands out even in Gangnam, Seoul's affluent southern district known as the home of some of the country's most expensive real estate. Prices reportedly range from around 14 billion won to more than 40 billion won depending on the unit's size, layout and location. L’Arbre 27 will have just 27 residences, emphasizing privacy and independent living rather than the large-scale community amenities typically associated with Korean apartment complexes. The project has already drawn attention for its reported celebrity buyers. Actor Shin Se-kyung, actor and singer Jang Keun-suk, television personality and former
President Lee Jae Myung said Thursday that the recent rebound in the country's potential growth rates signals a recovery in the national economy's fundamentals and that the trend should help promote balanced growth of both large and small firms. The president made the remarks at a meeting with his senior aides, citing a recent International Monetary Fund (IMF) report projecting the country's potential growth rate at 2.14 percent this year and 2.2 percent in 2027. The figures mark the first consecutive annual increases in about 40 years. "The rebound in potential growth rates, which can be viewed as basic physical strength for an economy, is welcome news that indicates the foundation for the growth of our economy is getting stronger," Lee said. The president stressed that this trend should serve as a steppingstone to promote sustainable, balanced growth by further solidifying the competitiveness of artificial intelligence and other advanced industries while focusing financial and policy resources on sectors that are slower to recover. "In order for the rare rebound in potential growth rat
President Lee Jae Myung said Thursday that the recent rebound in the country's potential growth rates signals a recovery in the national economy's fundamentals and that the trend should help promote balanced growth of both large and small firms. The president made the remarks at a meeting with his senior aides, citing a recent International Monetary Fund (IMF) report projecting the country's potential growth rate at 2.14 percent this year and 2.2 percent in 2027. The figures mark the first consecutive annual increases in about 40 years. "The rebound in potential growth rates, which can be viewed as basic physical strength for an economy, is welcome news that indicates the foundation for the growth of our economy is getting stronger," Lee said. The president stressed that this trend should serve as a steppingstone to promote sustainable, balanced growth by further solidifying the competitiveness of artificial intelligence and other advanced industries while focusing financial and policy resources on sectors that are slower to recover. "In order for the rare rebound in potential growth rat
World No. 3 Ryu Hae-ran put herself in early contention at the LPGA Tour event in her native Korea on Thursday. Ryu shot a bogey-free round of five-under 67 to begin the BMW Ladies Championship at Pine Beach Golf Links in Haenam, some 330 kilometers south of Seoul. She is tied for third place with three other players and sits one stroke behind the two co-leaders, Karis Davidson of Australia and Yuri Yoshida of Japan. Ryu collected three birdies on the front nine and two more on the back nine at the par-72 course that played 6,549 yards in the first round. Ryu, who won two majors earlier this season, is the highest-ranked player in the field this week. Kim Hyo-joo, sixth in the world rankings, is in a nine-way tie for eighth place at three-under 69. The group includes English star Lottie Woad, seventh in the world rankings, and Korean veteran Amy Yang. Defending champion Kim Sei-young shot an even-par 72 to tie for 40th. She started her round with three consecutive bogeys but birdied the eighth, ninth and 17th. The field also includes 15 players from the Korea LPGA (KLPGA) Tour. Kim Min-sol
World No. 3 Ryu Hae-ran put herself in early contention at the LPGA Tour event in her native Korea on Thursday. Ryu shot a bogey-free round of five-under 67 to begin the BMW Ladies Championship at Pine Beach Golf Links in Haenam, some 330 kilometers south of Seoul. She is tied for third place with three other players and sits one stroke behind the two co-leaders, Karis Davidson of Australia and Yuri Yoshida of Japan. Ryu collected three birdies on the front nine and two more on the back nine at the par-72 course that played 6,549 yards in the first round. Ryu, who won two majors earlier this season, is the highest-ranked player in the field this week. Kim Hyo-joo, sixth in the world rankings, is in a nine-way tie for eighth place at three-under 69. The group includes English star Lottie Woad, seventh in the world rankings, and Korean veteran Amy Yang. Defending champion Kim Sei-young shot an even-par 72 to tie for 40th. She started her round with three consecutive bogeys but birdied the eighth, ninth and 17th. The field also includes 15 players from the Korea LPGA (KLPGA) Tour. Kim Min-sol
The Seoul Metropolitan Government will deploy artificial intelligence crowd (AI)-monitoring cameras, airborne drones and mobile command buses across 14 major nightlife hubs starting Friday as part of an intensive safety management campaign ahead of Halloween. The special safety management period, running from Friday through Nov. 1, comes as city officials brace for large weekend crowds fueled by a surge in international tourism. Monthly foreign visitor arrivals to Korea recently topped 2 million for three consecutive months, bringing total inbound travel between May and September past 10 million. The heightened vigilance reflects lingering national trauma from the October 2022 crowd crush in Itaewon, which claimed 159 lives in a narrow, sloped alleyway. That tragedy prompted a sweeping overhaul of Korea’s municipal safety protocols, transforming Halloween from a loosely managed commercial event into one of the country's most heavily policed and technologically monitored public gatherings. The targeted zones include eight high-density priority areas — Itaewon, Hongdae, Seongsu-dong,
The Seoul Metropolitan Government will deploy artificial intelligence crowd (AI)-monitoring cameras, airborne drones and mobile command buses across 14 major nightlife hubs starting Friday as part of an intensive safety management campaign ahead of Halloween. The special safety management period, running from Friday through Nov. 1, comes as city officials brace for large weekend crowds fueled by a surge in international tourism. Monthly foreign visitor arrivals to Korea recently topped 2 million for three consecutive months, bringing total inbound travel between May and September past 10 million. The heightened vigilance reflects lingering national trauma from the October 2022 crowd crush in Itaewon, which claimed 159 lives in a narrow, sloped alleyway. That tragedy prompted a sweeping overhaul of Korea’s municipal safety protocols, transforming Halloween from a loosely managed commercial event into one of the country's most heavily policed and technologically monitored public gatherings. The targeted zones include eight high-density priority areas — Itaewon, Hongdae, Seongsu-dong,
Korean shares plunged more than 3 percent Thursday as investors took profits on major chip shares following a rebound in the previous session, amid concerns over investments in the artificial intelligence (AI) value chain. The Korean won strengthened against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 201.8 points, or 3.52 percent, to 5,533.77. The index opened down 1.14 percent before briefly turning positive to reach an intraday high of 5,740.28. It soon resumed its decline, with losses deepening sharply. The KOSPI had rebounded more than 3 percent in the previous session, recovering from steep losses as semiconductor shares rallied. Overnight, U.S. stocks closed mixed as AI-related shares rebounded following SpaceX's quarterly results. The Dow Jones Industrial Average rose 0.69 percent, while the S&P 500 gained 0.58 percent and the tech-heavy Nasdaq Composite advanced 1.05 percent. After delivering sound earnings, Meta Platforms boosted its bet on the AI sector. "Although Meta and Tesla reported earnings that exceeded market expectations, their results f
Korean shares plunged more than 3 percent Thursday as investors took profits on major chip shares following a rebound in the previous session, amid concerns over investments in the artificial intelligence (AI) value chain. The Korean won strengthened against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 201.8 points, or 3.52 percent, to 5,533.77. The index opened down 1.14 percent before briefly turning positive to reach an intraday high of 5,740.28. It soon resumed its decline, with losses deepening sharply. The KOSPI had rebounded more than 3 percent in the previous session, recovering from steep losses as semiconductor shares rallied. Overnight, U.S. stocks closed mixed as AI-related shares rebounded following SpaceX's quarterly results. The Dow Jones Industrial Average rose 0.69 percent, while the S&P 500 gained 0.58 percent and the tech-heavy Nasdaq Composite advanced 1.05 percent. After delivering sound earnings, Meta Platforms boosted its bet on the AI sector. "Although Meta and Tesla reported earnings that exceeded market expectations, their results f
A parliamentary committee adopted a confirmation hearing report for a special inspector nominee Thursday, clearing the way for the appointment of the first presidential watchdog in over a decade. The parliamentary legislation and judiciary committee approved the report for Choi Kil-su with bipartisan support following his confirmation hearing last month. The special inspector is tasked with investigating corruption allegations involving the family and relatives of the president and senior aides to the president. In the report, the committee said Choi was fit for the job, given his commitment to maintaining political neutrality and independence and his expertise in investigating corruption cases. The report also outlined concerns over whether Choi could carry out investigations impartially, noting that he was recommended by the ruling Democratic Party. Choi, a former senior prosecutor, was nominated by President Lee Jae Myung from among three candidates recommended by the ruling and opposition parties and the bar association in August. If appointed, Choi would become the first special inspe
A parliamentary committee adopted a confirmation hearing report for a special inspector nominee Thursday, clearing the way for the appointment of the first presidential watchdog in over a decade. The parliamentary legislation and judiciary committee approved the report for Choi Kil-su with bipartisan support following his confirmation hearing last month. The special inspector is tasked with investigating corruption allegations involving the family and relatives of the president and senior aides to the president. In the report, the committee said Choi was fit for the job, given his commitment to maintaining political neutrality and independence and his expertise in investigating corruption cases. The report also outlined concerns over whether Choi could carry out investigations impartially, noting that he was recommended by the ruling Democratic Party. Choi, a former senior prosecutor, was nominated by President Lee Jae Myung from among three candidates recommended by the ruling and opposition parties and the bar association in August. If appointed, Choi would become the first special inspe
TOKYO — Artificial intelligence has found critical security flaws in a major programming language called PHP, with many websites taken offline Thursday as organizations worldwide scramble to fend off would-be hackers. As AI's fast-advancing capabilities fuel concern over the increased risk of cyberattacks, here are some questions and answers about the situation: What is PHP and how widely used is it? Created in the early 1990s, PHP is a computer programming language that helps run an estimated 70 percent of the world's websites. It is "a backbone of the web," according to security firm Wiz Research, which says it used AI to find vulnerabilities hidden in PHP for more than a decade. PHP — a name that originally stood for Personal Home Page — underpins popular web design platforms, meaning the flaws could allow hackers to break into various sites, from online stores to government services. A fix was released Wednesday, with the PHP Foundation telling the tech departments of companies and organizations around the world: "If you run PHP, it is imperative that you update now." That has res
TOKYO — Artificial intelligence has found critical security flaws in a major programming language called PHP, with many websites taken offline Thursday as organizations worldwide scramble to fend off would-be hackers. As AI's fast-advancing capabilities fuel concern over the increased risk of cyberattacks, here are some questions and answers about the situation: What is PHP and how widely used is it? Created in the early 1990s, PHP is a computer programming language that helps run an estimated 70 percent of the world's websites. It is "a backbone of the web," according to security firm Wiz Research, which says it used AI to find vulnerabilities hidden in PHP for more than a decade. PHP — a name that originally stood for Personal Home Page — underpins popular web design platforms, meaning the flaws could allow hackers to break into various sites, from online stores to government services. A fix was released Wednesday, with the PHP Foundation telling the tech departments of companies and organizations around the world: "If you run PHP, it is imperative that you update now." That has res
The deputy commander of the U.S.-led United Nations Command (UNC) has stressed the need for a "careful and transparent" planning and communications in addressing incidents along the inter-Korean border, following last month's land mine blast that injured South Korean soldiers. Lt. Gen. Scott Winter made the remarks on a podcast Wednesday (London time), as tensions have heightened since the Sept. 21 mine blast inside the Demilitarized Zone (DMZ) separating the two Koreas injured three South Korean troops, with two of them severely. Seoul and Pyongyang have since been locked in a fiery tit-for-tat exchange of barbs, with the South blaming the North for the incident in violation of the Armistice Agreement governing the fortified border, while the North has accused Seoul of fabricating its investigation to pin the blame on the regime. "My response from a United Nations Command perspective is to double down on the importance of us being careful and transparent and robust in our planning and transparent in our communications to avoid any incident occurring in the first place," Winter said on
The deputy commander of the U.S.-led United Nations Command (UNC) has stressed the need for a "careful and transparent" planning and communications in addressing incidents along the inter-Korean border, following last month's land mine blast that injured South Korean soldiers. Lt. Gen. Scott Winter made the remarks on a podcast Wednesday (London time), as tensions have heightened since the Sept. 21 mine blast inside the Demilitarized Zone (DMZ) separating the two Koreas injured three South Korean troops, with two of them severely. Seoul and Pyongyang have since been locked in a fiery tit-for-tat exchange of barbs, with the South blaming the North for the incident in violation of the Armistice Agreement governing the fortified border, while the North has accused Seoul of fabricating its investigation to pin the blame on the regime. "My response from a United Nations Command perspective is to double down on the importance of us being careful and transparent and robust in our planning and transparent in our communications to avoid any incident occurring in the first place," Winter said on
The Constitutional Court on Thursday ruled constitutional a provision of the Criminal Act that imposes harsher penalties for those who murder their own family members than those convicted of ordinary murder. The court voted 8-1 on a petition filed by an individual who argued that Article 250, Paragraph 2 of the Criminal Act, which defines the crime of murdering a lineal ascendant, violates the constitutional rights to equality and the pursuit of happiness. The provision stipulates that those who kill their own or their spouse's immediate family members shall be punished by a minimum prison sentence of seven years, compared with the minimum prison sentence of five years for those convicted of murdering others. The plaintiff had been indicted on charges of killing their own father by neglecting him while serving as his caregiver, and received a final sentence of four years in prison in March 2022. The Constitutional Court said murdering a lineal ascendant fundamentally undermines the special bond and trust between parent and child and destroys the very foundation of the family unit, adding
The Constitutional Court on Thursday ruled constitutional a provision of the Criminal Act that imposes harsher penalties for those who murder their own family members than those convicted of ordinary murder. The court voted 8-1 on a petition filed by an individual who argued that Article 250, Paragraph 2 of the Criminal Act, which defines the crime of murdering a lineal ascendant, violates the constitutional rights to equality and the pursuit of happiness. The provision stipulates that those who kill their own or their spouse's immediate family members shall be punished by a minimum prison sentence of seven years, compared with the minimum prison sentence of five years for those convicted of murdering others. The plaintiff had been indicted on charges of killing their own father by neglecting him while serving as his caregiver, and received a final sentence of four years in prison in March 2022. The Constitutional Court said murdering a lineal ascendant fundamentally undermines the special bond and trust between parent and child and destroys the very foundation of the family unit, adding
South Korea said on Thursday it would take a “proportionate measure” if North Korea resumes operating propaganda loudspeakers along the border, while not mentioning details about such measures. In a wider response to the border tension that resulted from the explosion of North Korean mines, which injured South Korean soldiers, Seoul said it would send a letter to the president of the United Nations Security Council (UNSC) to explain that the mine planting was in violation of the 1953 Korean Armistice Agreement and call for U.N.-level actions. "If North Korea takes action, we believe there should be a proportionate measure," Ministry of National Defense spokesperson Chung Binna said when asked if Seoul will set up and operate its own propaganda loudspeakers. But she added nothing has been decided. The remarks came as Kim Yo-jong, the powerful sister of North Korean leader Kim Jong-un, has said in two statements since Tuesday that Pyongyang will resume propaganda loudspeaker broadcasts against South Korea, claiming that Seoul wrongfully accused North Korean troops of crossing the borde
South Korea said on Thursday it would take a “proportionate measure” if North Korea resumes operating propaganda loudspeakers along the border, while not mentioning details about such measures. In a wider response to the border tension that resulted from the explosion of North Korean mines, which injured South Korean soldiers, Seoul said it would send a letter to the president of the United Nations Security Council (UNSC) to explain that the mine planting was in violation of the 1953 Korean Armistice Agreement and call for U.N.-level actions. "If North Korea takes action, we believe there should be a proportionate measure," Ministry of National Defense spokesperson Chung Binna said when asked if Seoul will set up and operate its own propaganda loudspeakers. But she added nothing has been decided. The remarks came as Kim Yo-jong, the powerful sister of North Korean leader Kim Jong-un, has said in two statements since Tuesday that Pyongyang will resume propaganda loudspeaker broadcasts against South Korea, claiming that Seoul wrongfully accused North Korean troops of crossing the borde
The Korean won strengthened against the U.S. dollar Thursday, after the Bank of Korea (BOK) left its key rate unchanged, but hinted at further tightening. The won was quoted at 1,324.2 won per dollar at 3:30 p.m., up 1 won from the close of the previous stock trading session. For a fifth consecutive session, the won marked the highest level since Oct. 2, 2024. In a widely expected decision, the BOK held the key rate steady at 3 percent in its rate-setting meeting earlier in the day. BOK Gov. Shin Hyun-song told reporters that the won "is still undervalued in terms of effective exchange rate." The won has appreciated to around 1,320 won per U.S. dollar from around 1,560 won in June.
The Korean won strengthened against the U.S. dollar Thursday, after the Bank of Korea (BOK) left its key rate unchanged, but hinted at further tightening. The won was quoted at 1,324.2 won per dollar at 3:30 p.m., up 1 won from the close of the previous stock trading session. For a fifth consecutive session, the won marked the highest level since Oct. 2, 2024. In a widely expected decision, the BOK held the key rate steady at 3 percent in its rate-setting meeting earlier in the day. BOK Gov. Shin Hyun-song told reporters that the won "is still undervalued in terms of effective exchange rate." The won has appreciated to around 1,320 won per U.S. dollar from around 1,560 won in June.
A special counsel team said Thursday that six additional local election commissions have been found to have falsely entered voter turnout data during the June 3 local elections, bringing the total to 36 commissions. Special counsel Lee Tae-han's team has been investigating various suspicions surrounding the National Election Commission (NEC), the state election watchdog, after unprecedented ballot shortages were reported during the local elections, forcing some voters to turn back without casting their votes. In a press release, Lee's team said that following last week's disclosure of 30 local commissions that falsely entered voter turnout figures, it identified six more through searches, analysis of seized items and questioning of officials. The six were the local commissions in Chungju, North Chungcheong Province; Nonsan, South Chungcheong Province; two districts in Changwon, South Gyeongsang Province; Sangju, North Gyeongsang Province; and Gangneung, Gangwon Province.
A special counsel team said Thursday that six additional local election commissions have been found to have falsely entered voter turnout data during the June 3 local elections, bringing the total to 36 commissions. Special counsel Lee Tae-han's team has been investigating various suspicions surrounding the National Election Commission (NEC), the state election watchdog, after unprecedented ballot shortages were reported during the local elections, forcing some voters to turn back without casting their votes. In a press release, Lee's team said that following last week's disclosure of 30 local commissions that falsely entered voter turnout figures, it identified six more through searches, analysis of seized items and questioning of officials. The six were the local commissions in Chungju, North Chungcheong Province; Nonsan, South Chungcheong Province; two districts in Changwon, South Gyeongsang Province; Sangju, North Gyeongsang Province; and Gangneung, Gangwon Province.
Daewoo Engineering & Construction (E&C) is expanding artificial intelligence (AI) and digital management systems across its construction sites, deploying translation tools and quality-control software to reduce administrative workloads and improve communication with foreign workers. The construction firm rolled out AI translation and tablet-based training systems across its domestic construction sites last month. Its AI-powered translation system supports 16 languages, converting site managers' spoken Korean instructions into text and speech in foreign workers' native languages in real time. The company said the system recorded 94.6 percent accuracy in Korean speech recognition during preliminary testing. It is designed to reduce communication errors on construction sites, where clear instructions are essential for workplace safety, particularly as the number of foreign workers continues to increase. Daewoo E&C has also introduced a tablet-based system for safety training and related paperwork, such as worker registration, health screenings and training reports. The company is also develop
Daewoo Engineering & Construction (E&C) is expanding artificial intelligence (AI) and digital management systems across its construction sites, deploying translation tools and quality-control software to reduce administrative workloads and improve communication with foreign workers. The construction firm rolled out AI translation and tablet-based training systems across its domestic construction sites last month. Its AI-powered translation system supports 16 languages, converting site managers' spoken Korean instructions into text and speech in foreign workers' native languages in real time. The company said the system recorded 94.6 percent accuracy in Korean speech recognition during preliminary testing. It is designed to reduce communication errors on construction sites, where clear instructions are essential for workplace safety, particularly as the number of foreign workers continues to increase. Daewoo E&C has also introduced a tablet-based system for safety training and related paperwork, such as worker registration, health screenings and training reports. The company is also develop
Seoul is turning its dining scene into a weeklong celebration, with 124 restaurants, cafes and bars offering special menus, discounts and complimentary desserts as the city seeks to draw diners into neighborhood establishments and high-profile eateries alike. Seoul Restaurant Week begins Friday as part of Taste of Seoul 2026, a citywide program featuring food markets, culinary tours, cooking classes and awards recognizing contributors to the capital’s dining culture. This year’s participating venues include 23 Korean restaurants, 28 Western establishments, 11 Asian restaurants, seven grill restaurants, three vegetarian eateries, 35 cafes and dessert shops, two bars and pubs, and 15 establishments in other categories. The event runs through Oct. 29. Forty-one participants have been selected for Seoul’s 100 Taste of Seoul list or its 50 Best Cafes and Desserts list. For the first time, the city is partnering with Naver Pay to offer a payment promotion that gives customers points worth 50 percent of their bill, up to 10,000 won ($7.55), for one transaction per person at participating
Seoul is turning its dining scene into a weeklong celebration, with 124 restaurants, cafes and bars offering special menus, discounts and complimentary desserts as the city seeks to draw diners into neighborhood establishments and high-profile eateries alike. Seoul Restaurant Week begins Friday as part of Taste of Seoul 2026, a citywide program featuring food markets, culinary tours, cooking classes and awards recognizing contributors to the capital’s dining culture. This year’s participating venues include 23 Korean restaurants, 28 Western establishments, 11 Asian restaurants, seven grill restaurants, three vegetarian eateries, 35 cafes and dessert shops, two bars and pubs, and 15 establishments in other categories. The event runs through Oct. 29. Forty-one participants have been selected for Seoul’s 100 Taste of Seoul list or its 50 Best Cafes and Desserts list. For the first time, the city is partnering with Naver Pay to offer a payment promotion that gives customers points worth 50 percent of their bill, up to 10,000 won ($7.55), for one transaction per person at participating
Until this week, few on Wall Street had heard of Elice, a small Korean artificial intelligence (AI) neocloud company. Then its shares plunged 32 percent in their Kosdaq debut despite strong institutional investor interest, only to surge nearly 30 percent the following day. Elice's turbulent debut drew an unusual level of attention from international media outlets, including Bloomberg, Reuters, CNBC and Barron's, as it raised a multibillion-dollar question: Will the massive sums pouring into AI infrastructure ever pay off? "Its record first-day decline indicated growing investor skepticism toward neoclouds, a fast-growing corner of the AI industry," Bloomberg wrote. "Wednesday's sharp rebound also highlights how fickle market sentiment remains, as strong sector earnings continue to validate growth." When trading began on Tuesday, foreign and institutional investors were quick to sell, offloading a net 9.05 billion won ($6.84 million) and 35.36 billion won worth of shares, respectively. Elice's disappointing debut came amid a sharp deterioration in investor sentiment toward AI infrastructu
Until this week, few on Wall Street had heard of Elice, a small Korean artificial intelligence (AI) neocloud company. Then its shares plunged 32 percent in their Kosdaq debut despite strong institutional investor interest, only to surge nearly 30 percent the following day. Elice's turbulent debut drew an unusual level of attention from international media outlets, including Bloomberg, Reuters, CNBC and Barron's, as it raised a multibillion-dollar question: Will the massive sums pouring into AI infrastructure ever pay off? "Its record first-day decline indicated growing investor skepticism toward neoclouds, a fast-growing corner of the AI industry," Bloomberg wrote. "Wednesday's sharp rebound also highlights how fickle market sentiment remains, as strong sector earnings continue to validate growth." When trading began on Tuesday, foreign and institutional investors were quick to sell, offloading a net 9.05 billion won ($6.84 million) and 35.36 billion won worth of shares, respectively. Elice's disappointing debut came amid a sharp deterioration in investor sentiment toward AI infrastructu
The main opposition People Power Party (PPP) on Thursday renewed calls for the government to resume loudspeaker broadcasts along the inter-Korean border to protest against recent mine blasts in the Demilitarized Zone (DMZ), and to replace top security officials here over the incident that left three South Korean soldiers injured. The PPP accused President Lee Jae Myung of failing to take action over the Sept. 21 blasts, which the South Korean military determined to have been caused by mines planted "deliberately" by North Korea. "The president has described North Korea's nuclear weapons as a 'last resort of defense,' even when the North has explicitly stipulated preemptive nuclear strikes under its law on nuclear forces policy," PPP floor leader Jeong Jeom-sig wrote on Facebook. "How can we even consider retaking wartime operational control (OPCON) when the commander-in-chief cannot even tell the difference between an attack and defense, or between a land mine provocation and an 'unfortunate accident?'" he added. Rep. Jeong called for the immediate resignation of Unification Minister Chu
The main opposition People Power Party (PPP) on Thursday renewed calls for the government to resume loudspeaker broadcasts along the inter-Korean border to protest against recent mine blasts in the Demilitarized Zone (DMZ), and to replace top security officials here over the incident that left three South Korean soldiers injured. The PPP accused President Lee Jae Myung of failing to take action over the Sept. 21 blasts, which the South Korean military determined to have been caused by mines planted "deliberately" by North Korea. "The president has described North Korea's nuclear weapons as a 'last resort of defense,' even when the North has explicitly stipulated preemptive nuclear strikes under its law on nuclear forces policy," PPP floor leader Jeong Jeom-sig wrote on Facebook. "How can we even consider retaking wartime operational control (OPCON) when the commander-in-chief cannot even tell the difference between an attack and defense, or between a land mine provocation and an 'unfortunate accident?'" he added. Rep. Jeong called for the immediate resignation of Unification Minister Chu
Combined vehicle sales by Korea's leading automaker Hyundai Motor and its affiliate Kia fell 1.7 percent in Europe last month from a year earlier, amid a lack of new models, industry data showed Thursday. Hyundai and Kia sold a combined 96,258 vehicles in the common market in September, down from 97,907 in the same one-month period in 2025, according to data from the European Automobile Manufacturers' Association (ACEA). "The lack of new models, particularly electric vehicles, in Hyundai Motor's lineup affected its sales performance for the month," a company spokesperson said by phone. Hyundai Motor's sales fell 17.5 percent to 39,821 units from 48,253 a year earlier, while Kia's sales rose 13.7 percent to 56,437 units from 49,654. As emissions regulations in Europe become increasingly stringent, the two automakers are focusing on expanding sales of environmentally friendly vehicles, including the gasoline hybrid and plug-in hybrid versions of Hyundai's Tucson, its all-electric Kona, and Kia's pure electric EV3 and Niro plug-in hybrid. Last month, Hyundai and Kia together accounted for 7.
Combined vehicle sales by Korea's leading automaker Hyundai Motor and its affiliate Kia fell 1.7 percent in Europe last month from a year earlier, amid a lack of new models, industry data showed Thursday. Hyundai and Kia sold a combined 96,258 vehicles in the common market in September, down from 97,907 in the same one-month period in 2025, according to data from the European Automobile Manufacturers' Association (ACEA). "The lack of new models, particularly electric vehicles, in Hyundai Motor's lineup affected its sales performance for the month," a company spokesperson said by phone. Hyundai Motor's sales fell 17.5 percent to 39,821 units from 48,253 a year earlier, while Kia's sales rose 13.7 percent to 56,437 units from 49,654. As emissions regulations in Europe become increasingly stringent, the two automakers are focusing on expanding sales of environmentally friendly vehicles, including the gasoline hybrid and plug-in hybrid versions of Hyundai's Tucson, its all-electric Kona, and Kia's pure electric EV3 and Niro plug-in hybrid. Last month, Hyundai and Kia together accounted for 7.
Korea's semiconductor export boom, driven by global demand for artificial intelligence (AI) infrastructure, is expected to give private consumption a more meaningful boost starting next year, a central bank report showed Thursday. "Recently, the Korean economy has seen a significant acceleration in growth, driven by the strong semiconductor market, but the pace of growth in private consumption remains relatively modest," a report published by the Bank of Korea (BOK) said. Asia's fourth-largest economy grew 3.8 percent in the first half from a year earlier, while private consumption expanded 2.6 percent over the same period. The economic growth was supported by robust exports, led by strong semiconductor shipments. In September alone, exports soared 83.5 percent on-year to a record $120.9 billion, while semiconductor exports surged 263 percent to an all-time high of $60.3 billion. The BOK report said private consumption has continued to recover since hitting a low in the first quarter of 2025, with the strength and sustainability of the recovery depending on how broadly the benefits of the
Korea's semiconductor export boom, driven by global demand for artificial intelligence (AI) infrastructure, is expected to give private consumption a more meaningful boost starting next year, a central bank report showed Thursday. "Recently, the Korean economy has seen a significant acceleration in growth, driven by the strong semiconductor market, but the pace of growth in private consumption remains relatively modest," a report published by the Bank of Korea (BOK) said. Asia's fourth-largest economy grew 3.8 percent in the first half from a year earlier, while private consumption expanded 2.6 percent over the same period. The economic growth was supported by robust exports, led by strong semiconductor shipments. In September alone, exports soared 83.5 percent on-year to a record $120.9 billion, while semiconductor exports surged 263 percent to an all-time high of $60.3 billion. The BOK report said private consumption has continued to recover since hitting a low in the first quarter of 2025, with the strength and sustainability of the recovery depending on how broadly the benefits of the
JB Financial Group is expanding into Central Asia through the planned purchase of two Kyrgyz financial firms, broadening an overseas business portfolio built largely around Southeast Asia, the company said Thursday. JB Woori Capital, its consumer finance subsidiary, has agreed to buy Korky Credit and Korky Leasing from their parent, Epoche. The deal covers all shares in both companies and is expected to close before year-end, subject to regulatory approval and registration in Kyrgyzstan. The acquisitions would give JB Financial a presence in a fifth overseas market. Its existing businesses include commercial banking in Cambodia, microfinance in Myanmar and securities services in Vietnam. The group also secured Indonesian regulatory clearance in September to purchase an 85 percent stake in KB Bukopin Finance, a local financing company. JB Financial’s interest in Kyrgyzstan is driven primarily by the country’s young population and rapid economic growth. About 70 percent of its population is reportedly under 40. Its economy expanded 11.1 percent last year, according to the Internationa
JB Financial Group is expanding into Central Asia through the planned purchase of two Kyrgyz financial firms, broadening an overseas business portfolio built largely around Southeast Asia, the company said Thursday. JB Woori Capital, its consumer finance subsidiary, has agreed to buy Korky Credit and Korky Leasing from their parent, Epoche. The deal covers all shares in both companies and is expected to close before year-end, subject to regulatory approval and registration in Kyrgyzstan. The acquisitions would give JB Financial a presence in a fifth overseas market. Its existing businesses include commercial banking in Cambodia, microfinance in Myanmar and securities services in Vietnam. The group also secured Indonesian regulatory clearance in September to purchase an 85 percent stake in KB Bukopin Finance, a local financing company. JB Financial’s interest in Kyrgyzstan is driven primarily by the country’s young population and rapid economic growth. About 70 percent of its population is reportedly under 40. Its economy expanded 11.1 percent last year, according to the Internationa